Brookings: South Florida No. 1 in state for export performance

South Florida ranks first in Florida for export performance, according to a new report from the Brookings Institution Metropolitan Policy Program.

The tri-county area ranked 19th in the nation, with $14.7 billion in export value in 2010, the most recent year of data analyzed. Canada, Japan, the U.K., Mexico and Brazil are the region’s top export markets for travel and tourism, which is South Florida’s top export industry, according to the local portion of the report.

“Exports are helping to lead us out of the recession and into recovery,” said Emilia Istrate, senior research analyst and lead author of the report, in a statement. “What’s more, we are seeing leaders in our metropolitan areas developing strategies to capitalize on their regional strengths, develop infrastructure, and orient their economies towards overseas markets.”

South Florida’s geographic location has made it a leader for exports into Latin America and the Caribbean. Trade leaders believe exports and imports will continue to grow with improvements at local ports and the expansion of the Panama Canal in 2014. The Business Journal’s analysis of its 2012 list of South Florida’s top trade partners, based on WorldCity’s analysis of U.S. Census Bureau data, revealed the strength of the export and import market to the region’s future economic growth.

Export Nation brings to the light that less than one percent of American companies export, even though the U.S. is the world’s largest economy valued at $15 trillion.

Los Angeles was tops in the nation, with $79.8 billion in export value in 2010. New York came in second, with $78 billion in export value, followed by Chicago ($53.9 billion), Houston ($47.9 billion) and Dallas ($41.1 billion).